The Reputation Institute sorts companies according to the public's perception of their performance in seven areas: products and services, innovation, workplace, governance, citizenship, leadership, and performance.

The chocolate maker The Hershey Company is the most reputable brand in the US, but the brand is much less well known internationally, so it did not make it onto the list. Facebook did not even make it into the top 100.

After the emissions scandal that engulfed the company last year, Volkswagen dropped from being the 14th most reputable company in the world in 2015 to the 123rd spot this year.

To compile the rankings, the Reputation Institute collected more than 240,000 ratings from 15 countries. You can see the full results here.

10. Apple. RepTrack Points: 76.6.

A screenshot from the 2004 remake of Apple's iconic 1984 ad.Apple

Apple's reputation is getting worse, according to the study. The company has dropped from seventh place in 2014's rankings to eighth in 2015's, and it now sits at 10th. The tech company, however, came out on top in both the innovation and the leadership categories.

7. Microsoft. RepTrack points: 77.0.

Microsoft has returned to the list after it dropped out in 2015. It came out as the third most reputable brand in Asia. Microsoft is performing particularly well in the detachable tablet market, outperforming Apple.

6. Lego Group. RepTrack points: 77.4.

Lego remains the most reputable brand in Europe, the Middle East, and Africa.

This year Lego faced a serious backlash after the company refused to sell artist Ai Weiwei a bulk order of its plastic bricks. The Chinese artist had planned on using them to make a political point, which went against the company's rules. The toymaker later reversed this policy.

2. The Walt Disney Company. RepTrak points: 78.2.

EURODISNEY-SHAREHOLDERS/ REUTERS/Gonzalo Fuentes

The Walt Disney Company came in the top 10 in each of the seven categories. The huge media and entertainment company came first in the citizenship and governance categories, making it unlucky to miss out on the top spot.

The company is not afraid to stand up to things it disagrees with. On Wednesday, Disney Film Studios announced that it would boycott Georgia if the state brings into law a bill allowing officials to refuse to conduct same-sex marriages, The Guardian reports.

1. Rolex. RepTrak points: 78.4

Rolex's position as the most reputable brand in the world is due to its incredibly high reputation for products and services. It was in the top 10 for every category.

Luxury watch brands have suffered over the past year after facing a declining market in China. Consumers in the country bought 40% fewer Swiss watches — including Rolex, Swatch, and TAG Heuer brands — than they did in 2014, Sky News reported.

The luxury watch brand was founded in London in 1905 before moving operations to Switzerland at the end of World War I.